Regulatory Alerts2021-03-15
Resolution of 11 March 2021 by the Council of the National Securities Market Commission Modifying the Internal Regulations
The Council of the Spanish National Securities Market Commission (CNMV) issued a resolution on 11 March 2021 to amend its Internal Regulations to expand the scope of delegated powers. The amendment modifies Article 6 to allow the Council to delegate competencies to all General Directors, rather than limiting this authority solely to the Director General of Markets. This change aims to enhance organizational efficiency while maintaining strict safeguards, as core powers such as approving internal regulations and budgets remain non-delegable and all delegated decisions must be reported to the Council.
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